Clearbridge Investments LLC reduced its stake in American Equity Investment Life Holding (NYSE:AEL – Free Report) by 62.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945,769 shares of the financial services provider’s stock after selling 1,576,317 shares during the period. Clearbridge Investments LLC owned approximately 1.20% of American Equity Investment Life worth $50,731,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AEL. Alpine Associates Management Inc. purchased a new stake in shares of American Equity Investment Life in the third quarter worth $51,012,000. Norges Bank purchased a new stake in shares of American Equity Investment Life during the fourth quarter valued at $35,057,000. Picton Mahoney Asset Management purchased a new stake in shares of American Equity Investment Life during the third quarter valued at $26,850,000. Westchester Capital Management LLC purchased a new stake in shares of American Equity Investment Life during the third quarter valued at $23,559,000. Finally, Morgan Stanley boosted its position in shares of American Equity Investment Life by 30.2% during the fourth quarter. Morgan Stanley now owns 1,407,083 shares of the financial services provider’s stock valued at $64,191,000 after buying an additional 326,412 shares during the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.
American Equity Investment Life Trading Up 0.3 %
Shares of NYSE:AEL opened at $55.41 on Friday. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 25.89 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.36 and a current ratio of 0.34. The stock’s 50-day simple moving average is $55.49 and its two-hundred day simple moving average is $54.44. American Equity Investment Life Holding has a 52-week low of $31.57 and a 52-week high of $56.08.
American Equity Investment Life (NYSE:AEL – Get Free Report) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.24. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $673.53 million. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The business’s revenue for the quarter was up 61.7% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. Analysts expect that American Equity Investment Life Holding will post 7.1 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts recently commented on AEL shares. StockNews.com started coverage on American Equity Investment Life in a research report on Friday, February 16th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods increased their price objective on American Equity Investment Life from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.
Get Our Latest Report on American Equity Investment Life
American Equity Investment Life Company Profile
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.
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